WidePoint (NYSEAMERICAN:WYY) Lowered to Strong Sell Rating by Zacks Research

WidePoint (NYSEAMERICAN:WYY) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Separately, HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of WidePoint in a research note on Monday. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.67.

WidePoint Stock Performance

WYY stock opened at $4.99 on Monday. The firm has a 50-day simple moving average of $5.27 and a two-hundred day simple moving average of $5.83. WidePoint has a one year low of $2.19 and a one year high of $7.55. The firm has a market cap of $49.25 million, a price-to-earnings ratio of -17.21 and a beta of 1.46.

Institutional Investors Weigh In On WidePoint

A number of large investors have recently bought and sold shares of the company. Ritholtz Wealth Management acquired a new position in WidePoint in the 4th quarter worth approximately $79,000. XTX Topco Ltd acquired a new stake in WidePoint during the 2nd quarter valued at approximately $58,000. NewEdge Advisors LLC acquired a new stake in WidePoint during the 2nd quarter valued at approximately $74,000. Jane Street Group LLC purchased a new stake in shares of WidePoint in the 2nd quarter valued at $87,000. Finally, State Street Corp boosted its holdings in shares of WidePoint by 9.7% in the 4th quarter. State Street Corp now owns 27,153 shares of the technology company’s stock valued at $146,000 after acquiring an additional 2,400 shares during the last quarter. Hedge funds and other institutional investors own 22.60% of the company’s stock.

WidePoint Company Profile

WidePoint Corporation (NYSE American: WYY) is a provider of secure mobility management and identity management solutions. Headquartered in Reston, Virginia, the company delivers a range of managed services designed to help organizations control and secure their telecommunications and IT environments. Since its inception in the late 1990s, WidePoint has focused on helping businesses and government agencies optimize their mobile device portfolios and ensure regulatory compliance.

WidePoint’s core offerings include mobile device management, telecom expense management, and unified endpoint security.